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Economy of Latvia. Statistics, Data and Indicators

flag
Latvia
69A- Credit rank #39
N/A Quality of life #
42 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 33.51 USD Billion 2020
GDP Annual Growth Rate -1.3 % 1Q/21
GDP Growth Rate -1.7 % 1Q/21
GDP per capita 23061 USD 2020
Inflation Rate YoY 2.7 % Jun/21
Interest Rate 0 % Jun/21
Unemployment Rate 8.1 % 1Q/21
Wages 932 EUR/Month | 1101.603 USD/Month Mar/21
Balance of Trade -357 EUR Million | -0.422 B USD May/21
Current Account -55 EUR Million | -0.065 B USD May/21
Foreign Exchange Reserves 4441 USD Million | 4.441 B USD Jun/21
Government Debt 13430 EUR Million | 15.874 B USD 1Q/21


GDP
vvp
33.51
USD Billion
#99 from 174 countries
GDP per capita
vvp
23061
USD
#47 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 33.51 USD Billion 2020
GDP Annual Growth Rate -1.3 % 1Q/21
GDP Growth Rate -1.7 % 1Q/21
GDP per capita 23061 USD 2020
Gross National Product 6609 EUR Million | 7.812 USD Billion 1Q/21
GDP Constant Prices 5927191 EUR Thousand | 7.006 B USD 1Q/21
GDP per capita PPP 29932 USD 2020
GDP From Agriculture  159856 EUR Thousand | 0.189 B USD 1Q/21
GDP From Construction  235846 EUR Thousand | 0.279 B USD 1Q/21
GDP From Manufacturing  699195 EUR Thousand | 0.826 B USD 1Q/21
GDP From Mining  188700 EUR Thousand | 0.223 B USD 1Q/21
GDP From Public Administration  359620 EUR Thousand | 0.425 B USD 1Q/21
GDP From Services  764712 EUR Thousand | 0.904 B USD 1Q/21
GDP From Transport  445201 EUR Thousand | 0.526 B USD 1Q/21


Budget Indicators

Indicator Data Period
Government Debt to GDP 43.5 % 2020
Government Budget Value -252544208 EUR | -0.299 USD Billion Jun/21
Government Spending 1136585 EUR Thousand | 1.343 USD Billion 1Q/21
Government Debt 13430 EUR Million | 15.874 USD Billion 1Q/21
Government Revenues 1128291 EUR Thousand | 1.334 USD Billion Jun/21
Fiscal Expenditure  1451597 EUR Thousand | 1.716 B USD Jun/21
Government Budget to GDP -4.5 % 2020
Government Spending to GDP 43.6 % 2020
Military Expenditure 739 USD Million | 0.739 B USD 2020


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 112 index points Jun/21
Export Prices 114 index points May/21
Food Inflation 2 % Jun/21
Gasoline Prices 1.57 USD/Liter Jun/21
GDP Deflator 1.15 % 1Q/21
Import Prices 100 index points May/21
Inflation Rate YoY 2.7 % Jun/21
Producer Prices 113 index points May/21
Inflation Rate Mom 0.3 % Jun/21
Core Consumer Prices 110 Index Points May/21
Core Inflation Rate 2 % Jun/21
CPI Housing Utilities 106 Index Points Jun/21
CPI Transportation 110 Index Points Jun/21
Harmonised Consumer Prices 112 Index Points Jun/21
Producer Prices Change  8.3 % May/21


Trade Indicators

Indicator Data Period
Current Account to GDP 3 % 2020
Balance of Trade -357 EUR Million | -0.422 USD Billion May/21
Capital Flows 11000 EUR Thousand | 0.013 USD Billion 1Q/21
Current Account -55 EUR Million | -0.065 USD Billion May/21
Exports 1249 EUR Million | 1.476 USD Billion May/21
External Debt 36190 EUR Million | 42.776 USD Billion 1Q/21
Foreign Exchange Reserves 4441 USD Million | 4.441 USD Billion Jun/21
Imports 1606 EUR Million | 1.898 USD Billion May/21


Money Indicators

Indicator Data Period
Bank Lending Rate 3.79 % Mar/21
Gold Reserves 6.66 Tonnes 1Q/21
Interbank Rate 0.17 % Jul/21
Interest Rate 0 % Jun/21
Loans to Private Sector 4323 EUR Million | 5.11 USD Billion May/21
Money Supply M0 11458 EUR Million | 13.543 USD Billion Jun/21
Money Supply M1 16488 EUR Million | 19.488 USD Billion May/21
Money Supply M2 18177 EUR Million | 21.485 USD Billion May/21
Central Bank Balance Sheet 23868 EUR Million | 28.211 B USD Apr/21
Foreign Direct Investment 135 EUR Million | 0.16 B USD Mar/21


Labor Indicators

Indicator Data Period
Minimum Wages 500 EUR/Month | 590.989 USD/Month 1Q/21
Retirement Age Men 63.75 2020
Retirement Age Women 63.75 2020
Unemployment Rate 8.1 % 1Q/21
Wages 932 EUR/Month | 1101.603 USD/Month Mar/21
Youth Unemployment Rate 14.1 % May/21
Employed Persons 853 Thousand Person | 0.853 Million Person 1Q/21
Employment Change  -3.9 % 1Q/21
Employment Rate  61.6 % 1Q/21
Full Time Employment 767 Thousand Person 4Q/20
Job Vacancies 21326 | 21.326 K 1Q/21
Labor Force Participation Rate 67 % 1Q/21
Long Term Unemployment Rate 2.4 % 1Q/21
Part Time Employment 77.8 Thousand Persons 4Q/20
Unemployed Persons 67307 Persons | 0.067 Million Persons Jun/21


Taxes



Production Indicators

Indicator Data Period
Electricity Production 531 GWh May/21
Industrial Production 10.1 % May/21
Mining Production 15 % Apr/21
Industrial Production (MoM) -2.3 % May/21


Business Indicators

Indicator Data Period
Business Confidence 2.8 index points Apr/21
Corruption Index 57 index points 2020
Corruption Rank 42 place 2020
Ease of Doing Business 19 place 2019
Manufacturing Production 20.3 % Apr/21
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 90.7 Index Points Mar/21


Consumer Indicators

Indicator Data Period
Consumer Confidence -1.8 index points Apr/21
Retail Sales MoM -3.9 % May/21
Retail Sales YoY 3.2 % May/21
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 3500529 EUR Thousand | 4.138 USD Billion 1Q/21
Households Debt To Income 32.19 % 2019


Housing Market

Indicator Data Period
Construction Output 4.4 % 4Q/20


Government Debt
dept_icon
15.874
USD Billion
#49 from 65 countries
Balance of Trade
balance_icon
-0.422
USD Billion
#90 from 173 countries


Gold Reserves
gold_reserve_icon
6.66
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
4.441
USD Billion
#87 from 114 countries


Government Budget Value
balance_icon
-0.299
USD Billion
#113 from 113 countries
Inflation Rate
inflation_icon
2.7
%
#78 from 174 countries


Interest Rate
discount_rate_icon
0
%
#147 from 159 countries
Bank Lending Rate
credit_rate_icon
3.79%
#30 from 55 countries


Unemployment Rate
unemployment_icon
8.1
%
#79 from 171 countries
Wages
salary_icon
1101.603
USD/Month
#46 from 82 countries


Retirement Age
man_icon
woman_icon
63.75
63.75
men
women
Taxes
company_icon
private_icon
20%
31%
company profits
income of individuals